‘Tis the Season

For millions, April 15th is the worst day of the year.

Taxpayers have dreaded this day since early January. From employer W-2s to investor 1099s to all those pesky receipts and notes, tax-day is usually a day we look forward to like we look forward to dental work or an appendectomy.

Not only do we have to pay the government (or ask them, nicely, for our overpayment back), but we have to fill out endless forms and filings to prove that we have the right number. And to add insult to injury, over 1 ½ million of us will be audited next year. The IRS will say, in effect, we don’t believe you. Prove it.

I suppose that it’s inevitable in an open society like ours that some people will try to cheat the system and “free ride” on law-abiding taxpaying citizens. But it’s galling to think of mega-cheats like Madoff and Dreier while the IRS examines the details of some poor Joe’s credit card write-off.

One thing April 15th does is focus the mind. It’s at least one day a year when people ask whether they’re getting the government that they paid for.

Douglas R. Tengdin, CFA
Chief Investment Officer
Hit reply if you have any questions—I read them all!

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www.chartertrust.com • www.moneybasicsradio.com • www.globalmarketupdate.net
By | 2014-09-04T17:59:14+00:00 April 15th, 2009|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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